All Forum Posts by: Joe Kooner

@Benjamin Choo

Thank you for breaking down the figures and terms for me! :) 

I would like to correct some assumption that I did not clear up in my original post. I would like to pay a down of 20-30% and my purchase price range would be around $2-3M (I know that's a wide range but I could raise the additional funds depending on the deal). Would this new purchase price and information change your assumption of me getting to my NCF goal of $8-10k/mo? (after debt service - straight net in my pocket).

Thank you again for providing me some resources on where to look for deals. I'll make some connections with local brokers. Because this investment is out of state (I live in WA), I don't truly care where the deal is located, as long as there is population growth and rent demand in the present and future. I'm sure that does not do a good job of narrowing it down for you to help me here. 

@andrew hogan

Thanks for the advice! I definitely realize it's a team game and I don't plan on actively doing any property management. I want this to be a passive investment with upside.

@Chris K.

I actually am a realtor in my state but due to the high prices in WA, I believe this investment would most likely be out of state. Of course would love to invest in WA but the pickings are slim (to my limited knowledge).

@Benjamin Choo

Thank you very much for the detailed response. This was exactly what I needed: Actionable information.

I believe I understand most of of the except for the 65% LTG IO financing @ 3.5% part. Perhaps you can explain that to me?

And the purchase price of 1-2M fits within my budget so happy to hear that it’s attainable to achieve my NCF goal.

Now the obvious rookie question would be where can I get started to begin analyzing deals and finding properties that fit my goals?

@Alan Feldman thanks for the advice, Alan. I’ll go and check that out.

I need to get better at analyzing deals so I can figure out if my cash flow goals are achievable.

@Michael Bender

I feel as if I have very similar goals as you. I’m also looking to buy a multi family to supplement my income and look for a strong cash flow of $10k~ per month. I also want it to be a passive investment and have property mgmt in place.

But just not sure where to start when it comes to education and analysis.

Hello everyone!

I've been very quiet on BP over the last couple of years because I've been focused on saving money for the purpose of REI.

I would like to start off by saying I apologize if this question has been answered a few times here and/or if it contains rookie level ignorance.

I realize BP has so many great resources to learn how to invest in multi family real estate. However, sometimes having a lot of resources can get overwhelming and I would like to stay laser focused in my pursuit. Which leads me to my question:

Is there a specific resource or set of resources (material or person/mentor) that I can learn from on how to find, analyze, and purchase multi family deals? (Almost like a fast track to education all in one place)

My goal: I would like to own large multi family real estate with many units (don’t have a unit number but more focused on my cash flow goal). The small 5-10 units don’t interest me. My goal is for the net cash flow to replace both our incomes from our W2 jobs. Which means my net cash flow goal is $10k/mo or more from my investment. I also plan on making many more investments after my initial one and ultimately get to $30/mo + in cash flow over the course of my investing career.

Disclaimer: perhaps there’s some ignorance in my goal stated above and I of course don’t know what I don’t know. But I know what I want. I’ve been looking at other investments (hotels, service stations etc) but I believe this would be the most “passive”.

If anyone could please help direct me the right way, that would be great. I don’t mind fast tracking the information and education process if there is one piece of material that includes the education piece I need.

I’m looking forward to the discussion. Thanks!

Would love to find out as well.

I'm also curious on what is the best way to structure wholesale deals in WA state.

My understanding was that you get a contract signed between yourself (A) and the motivated seller (B), and you use transactional funding to buy the property for a very short time (to sell the property right away), and then you sell it to end buyer (C). 

Am I wrong?

thanks @Brent Hill for sharing your thoughts. My previous post was not meant to challenge anyone's beliefs or program but rather understand if there were aspects of the program that you found that could be improved or built upon. It's good to get more clarity into your experience with the program, I look forward to hearing more about your success as you continue this diary. Let's go out there's and kill it!